Nuvel Holdings, Inc. (OTCMKTS:NUVL) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On December 23, 2016, OrangeHook, Inc. (“OrangeHook”), a Minnesota corporation and wholly-owned subsidiary of Nuvel Holdings, Inc., a Florida corporation, entered into a Modification of Commercial Promissory Note (the “Note Modification”) with MEZ Capital, LLC (“MEZ”) to extend the terms of an existing promissory note in the principal amount of $500,000 with a maturity date of December 23, 2016 (the “Note”). to the terms of the Note Modification, OrangeHook paid MEZ $75,000 in earned interest and a $7,500 discount fee. As modified, the Note has a maturity date of February 7, 2017 and provides for payment of $22,500 in interest. The Note Modification also provides an option to extend the Note for an additional forty-five (45) day period ending March 25, 2017 with an additional interest payment of $22,500 and an additional discount fee of $7,500.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information included in Item 1.01 above is incorporated by reference into this Item 2.03.
Nuvel Holdings, Inc. (OTCMKTS:NUVL) Recent Trading Information
Nuvel Holdings, Inc. (OTCMKTS:NUVL) closed its last trading session 00.000 at 0.250 with 7,500 shares trading hands.